Many philanthropists know that improving educational standards should be a priority. Sometimes this is because they realize the role that a good education played in their own success. Then again, the reason can be that they had a harder time receiving education or had to make do without one. Here are some of the ways that philanthropists are encouraging improvement in educational standards.
Donations to nonprofit groups
There are nonprofit groups that offer grants and funds for educational initiatives. For example, the Bill and Melinda Gates Foundation accepts applications and awards grants for educational research and better education for underprivileged people all over the world. Donations and involvement sometimes leads to philanthropists starting their own charitable organization.
College-specific scholarship programs
Many of those that have found success choose to establish their own scholarship fund. Sometimes there may be specific criteria in place for those that apply for the scholarship. For example, Lord Laidlaw donates to scholarships at Columbia University. He is a 1965 graduate of the school of business and uses his wealth to help those with limited funds attend Columbia Business School. Lord Laidlaw also helps fund programs for students to study abroad during the course of their time there. The Laidlaw Fund for International Study Tours and Global Immersion Programs at the Jerome A. Chazen Institute of International Business helps business students learn many aspects of international business, and encourages them to work together with other business professionals throughout the world. Philanthropists such as Lord Laidlaw often give back to educational institutions that they attended and remember fondly.
Specialty scholarships
There are many scholarships that are designated for groups of people that have experienced discrimination or other struggles in the past. For example, if your child is disabled, there may be some more opportunities for scholarships. If you are a minority in your chosen field of study, there can also sometimes be programs to help you afford college studies. These programs help increase the diversity of the workforce and ensure that opportunities are available on a fair basis.
Merit-based scholarships
If a student has excelled in high school, then they are a good candidate for a merit-based scholarship. A great resume of extracurricular activities, such as charity work, can also help your student get one of these scholarships. Merit-based scholarships offer a lot of motivation for students to try to achieve success while still completing their pre-college studies.
Need-based
Higher education is important, but it can also be quite expensive. Travel, room, board, tuition fees, books, etc., can all add up to a considerable amount of money. There are many bright young people that would love to have the opportunity to attend university but feel that they cannot afford to do so. A need-based scholarship helps these underprivileged young people achieve their hopes and dreams. It is no surprise that many self-made philanthropists can relate to this situation and thus want to help others overcome hardships and achieve success.
Until next time,
Jada x
